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FOX Business
Dec 10, 2012 3:00pm EST
happen to some of these stocks depending on the fiscal cliff. maybe things will not be so bad. on the other hand, now you have a stock in a completely separate sector. locate gap stores. all of a sudden end of last week, we saw this huge drop. the stock down about 15%. liz: what is it about gap at this point? >> >> it has been on such a great rally. i think there is some sentiment that because they did not announce any sort of forward diviiend that some of the investors are disappointed. with this thursday coming out with november retail sales data, people are thinking it is maybe not so good much like people are saying at apple that people are taking money off the table, that may be the same story with gap. liz: one story that may very relate is john woods the fact that gasoline went flat today has come down. down $0.10 over the past three weeks does this trend continue where is the next trade you cannot have high oil prices and expect people to pay high oil prices at the pump. in economy will just come right to a halt. i can see crude coming down to $82 really just hanging there. th
FOX Business
Dec 6, 2012 10:00pm EST
president's ultimatum driving us to the fiscal cliff? chris and senior writer for the weekly standard, steven hayes the guests here tonight. we begin with the dictator trying to maintain command of the country using chemical weapons as a deterrent. fox news chief washington correspondent james rosen has the latest for us in this report. >> a regime helicopter captured in the skies in syria in a video unloads something, most likely, a defensive flair to detour antirebel runners, but that epitomizes the fear of which the serian people now live. rebel forces taking the flight to the assad regime inside the capital with a deadly explosion in the arab red crescent building outside the city. >> it's very clear the regime forces are being grounded down and that they are losing. >> in seeking to squash the uprising, he killed 40,000 people. president obama's top aids feel the fightg takes on a more gruesome character. >> we remain very concerned, very concern that as the opposition advances, i particular on damascus, that the regime might very well consider the use of chemical weapons. >> sen
FOX Business
Dec 6, 2012 7:00pm EST
of dollars, but sharpton is in favor of raising taxes on the so-called wealthy maybe because he knows he will not pay the tax rates. fairness is among the other americans, not him. that's my two cents more. thars all for to be the. thank you for joining us, dvr the show if you can't catch us live. have a great night. we'll see you right back here tomorrow. ♪ lou: the obama administration tonight ramping up diplomatic efforts to end seer -- syria's bloody civil war and the fear assad could use chemical weapons against his own people. the military is prepared to use poisen gas bombs, secretary of hillary clinton flew to dublin to hold a meeting with her russian counter part and u.n. enjoy to syria meeting to discuss how they would end the now 21-month long conflict in syria and how to move assad from power. and there's no sign they had to reverse the support, and today, a senior lawmaker says the syria government is now incapable of functioning properly. just before the meeting with the russian foreign minister, secretary clinton insisted that the united states and russia share common goals in the region. >> trying hard to work hard with russia to stop the bloodshed in syria and begin a political transition to a post asad future. the pressure against the regime in and around damascus seems to be increasing. lou: at home, leon pa net fa issuing the -- panetta issuing the sharpest warning yet. >> the president of the united states made it clear there will be consequences. there will be consequences if the assad regime makes a terrible mistake by using chemical weapons on their own people. lou: neither the white house or pentagon elaborating on what the cons -- consequences would be, but having russia back them would be a determined outcome made by the promise of president obama in dealing with russia after winning a second term as he remarked to the russian president thinking they were off microphone as they met in south korea back in march. >> after my election, i have more flexibility. >> i understand. i just need permission -- lou: a full report on the disturbing turn of events in syria and the likely price of russian cooperation on syria. another middle east dictator, egyptian leader, morsi, with a concession to the opponents inviting them to hold talks on the crisis. is that enough to appease protesters who plan larger demonstrations tomorrow? we'll be talking with fox news middle east expert while ferris in washington institute fellow eric trager, and president obama back on the campaign trail continuing to successfully dress up his ultimatum on higher taxes as a republican decision rather than his own declaration. his staff organized a sit-down with a middle class family today in virginia claiming congress is to blame p they fail to yield to his ultimatum. why is the mainstream liberal media ignoring the reality it's the president's ultimatum driving us to the fiscal cliff? chris and senior writer for the weekly standard, steven hayes the guests here tonight. we begin with the dictator trying to maintain command of the country using chemical weapons as a deterrent. fox news chief washington correspondent james rosen has the latest for us in this report. >> a regime helicopter captured in the skies in syria in a video unloads something, most likely, a defensive flair to detour antirebel runners, but that epitomizes the fear of which the serian people now live. rebel forces taking the flight to the assad regime inside the capital with a deadly explosion in the arab red crescent building outside the city. >> it's very clear the regime forces are being grounded down and that they are losing. >> in seeking to squash the uprising, he killed 40,000 people. president obama's top aids feel the fighting takes on a more gruesome character. >> we remain very concerned, very concern that as the opposition advances, in particular on damascus, that the regime might very well consider the use of chemical weapons. >> senior u.s. officials confirmed to fox news that syria have fully mixed an unknown quantitity of the deadly nerve agent loading it on to breakable canisters, an aerosol form to be dropped from above. in dublin, secretary of state clinton met with the russian foreign minister whose regime steadfastly defended syrias, but that changed as the russian leader, close to putin said, quote, we have shared and do share the opinion that the existing government in syria has to carry out its function, but time shown this task is beyond its strength. >> it's now up to the russians to do everything possible and maximize their influence to ensure he does not use these weapons. >> it's also good to hear that some of the arab countries are trying to find a way to get them out. >> whether assad accepts the settlement that includes asylum in another country is far from clear. the deputy foreign minister said he's 100% sure that assad will never, ever leave syria. lou: thank you very much. chief washington correspondent, and joining us now, fox news middle east and terror analyst, fellow at the washington institute for near east policy. gentlemen, thank you for being here. beginning with you, just received word that the president smoke with morsi today talking about the number of deaths and concern about the result of the demonstrations. this is now a region that seems to be of behaving in ways in which this administration could not have anticipated or did not a year ago, six months ago. your thoughts on what's happening now? >> well, ii's happening right now is a balance of force, of demonstrations between the morsi regime, which is still trying to assert itself, the gun to influence the army, but did not complete the job, so the army is not completely under the hands of morsi, but, on the other hand, a dynamic opposition uniting against morsi and has been early on the responsible for the uprising in egypt against mubarak, replaced with the brotherhood, and bottom line, lou, is now the obama administration realizes that a partnership with the muslim brotherhood and morsi will not do. there has to be a triangle agreement. it's part of the politics. morsi cannot, even with the referendum on the 15th, five lines, strong opposition. lou: eric, do you concur? >> i don't, actually. i wish i shared his optimism, but it seems to me the administration is still really engaging morsi, not reading him the riot act. you had top morsi advisers in washington yesterday meeting with the nfc. no hard message sent at all. it's true that, you know, the protesters against morsi are uniting around it, but beyond that, very little brings them together. it's hard to see this protest creating a nonislammist movement more likely have to be forcing it through creating chaos. >> doesn't it seem now clear that this administration is supporting at least covertly, subtly, the islamist movement in the region, in fact rather than, as it seems, many want to believe, and trying to work against the radical islams, and those. >> this question is only asked in washington. everywhere else, go to paris, london, europe, the arab world, you read their press, and everybody knows, or everybody criticizes or accuses the obama administration as being a partner as pushing or helping the morsi government, and before that, the muslim brotherhood. it's a well-known reality. only in the hallways of the washington, political establishment, the question should be why? why did the obama administration from day one from tahrir square, rather than teaming with the youth, women, middle class, labor, and he sided with the muslim brotherhood, and that question basically, if we answer that question, we would know what would be the future of the policy in egypt. lou: eric, you cautioned against trusting morsi from the outset, and now, it appears, we are trying to persuade russia to end their support for assad. how effective do you think that ever will be? >> i think it will be very uneffective, and i'm afraid we waited way look on syria. 30,000 people have been killed. now reports of gas loaded on to bombs to be dropped # on them, and i think we really have to be very concerned that pursuing this diplomatic process gives the assad regime more time to do tremendous damage and destruction to his own people. lou: thank you, both, eric, doctor, thank you, gentlemen. >> thank you. lou: more on the crisis in syria and egypt as we take it up with the a-team. the so-called fiscal cliff is really all about the obama ultimate may tum. >> i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. lou: president's ultimatum and his insistence on higher taxes may take us over the cliff. chris and steven next. the next scott walker? 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a billion shares lighter than yesterday, but above the average of 3.1 billion trading on the board today. apple rebounded from yesterday's worst date performance in four years, a gain of $8.45 today with the ceo saying apple will move imac computer production to the country in the new year. garmin stock higher to replace rr donly in the s&p 500, the stock moving up 5.75%. crude oil declining, down a third day in a row, looking at large supplies of gasoline and anemic demand. crude oil down 1.62 settling at 84.26. the yield continues to fall slipping to 1.58% today. confirmation tonight that the staffs of president obama and house speaker boehner resumed discussions as the two principles remain far from face-to-face negotiation apparently. fox news chief white house correspondent ed henry has the latest. >> pulling on the heart strings like he's on the campaign trail, president obama visited a middle class family in virginia. >> a couple thousands dollars means a couple months rent for this family. >> again, trying to frame the battle over the miscall cliff as being all about taxes with no mention of spending cuts. >> i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%, but e remain optimistic we can get something done that are good for families like this one, and that's good for the american economy. >> republicans believe the reason the president is going light on spending cuts while demanding the budget deal include another increase in the nation's debt ceiling is clear. >> this is not about getting a handle on deficits or debt for him. it's about spending even more than he has. >> white house aids reject the republican claims that holding the debt limit over the president's head is the only mechanism to get him to trim spending. >> you're just going to keep at the debt limit goes higher, you spend more money. you and congress, both. >> that's false. president signed into law a trillion dollars in discretionary cuts. the president has a specific proposal to achieve $600 billion in savings from entitlement programs like health care entitlement programs. >> jay compared republican pressure on the debt ceiling to a hostage taking. >> a profoundly bad idea that i think could not be more frightening for american businesses, and american workers. >> treasury secretary tim geithner may have frightened people yesterday saying the white house is prepared to go off the fiscal cliff unless republicans bend on taxes. a comment by former democratic potential candidate howard deen frightened republicans that the debate is not just about raising taxes on the rich. >> the truth is everybody needs to take more taxes, not just the rich. that's a good start, but we're not going to get out of the deficit problem unless we raise taxes across the board. to go back to what bill clinton had. >> now, some liberals pushed the president to invoke the 14th amendment claiming that gives him the executive power to raise the debt limit himself, but jay said today the white house studied that proposition and decided the president does not have that executive power meaning we headed for another show down with congress over raising the debt ceiling. lou: the fiscal cliff and now a new ultimatum on the national debt ceiling. you suppose this is the last condition? >> it's going to be a wild couple of months, maybe everybody thought with the election over, there was going to be peace and figure all of this out, but i think we're just at the beginning of a long protractive battle, lou. lou: more on the stalemate of the fiscal cliff, the impasse, and tell us what you think about the so-called negotiations. vote in tonight's online poll. do you agree president obama's ultimatum on higher taxes are actually the cause? make him responsible for driving us off the fiscal cliff? go to our to be page at facebook facebook.com/loudobbs. we'll have results at the end. chris and steven joining us here next to address that question and more. ♪ ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now through december 31st. 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[ malennouncer ] lease a 2013 e350 f $579 a month at your local mercedes-benz dealer. lou: house minority leader, pelosi going along with timothy geithner in saying it's just a fact we're going over the cliff if republicans do not agree to meet the president's ultimatum and raise taxes on the top 2%. >> the way i heard it, and the way i think it was not as a threat we'll go over if they don't, it's a prediction. if there's no agreement, then the cliff has to be dealt with. i don't see it if they don't do this, we do that. i saw it as a statement of fact. it's not a threat. it's a prediction. if there's no agreement, we go over the cliff. let's hope we have an agreement3 lou: ha-ha, fox news digital politics editor joining us as does steven hayes, weekly writer and fox news critterment steven, it looks like a condition preceding, and looks like it and sounds like it. how can it be the entire national media establishment seems to be blaming the republicans because the president issued an ultimatum? >> incredible, the president had red lines, saying he will not entertain the debt ceiling debate in the broader fiscal cliff discussion, clear where he was on taxes on the wealthy, a president who came out, and from the beginning, suggesting he's not moving off of his basic requirements, and republicans came a coup of different times making, at least, gestures towards a compromise. i think that suggests where the leverage really lies in this debate and negotiations. >> chris, seemssthe president's doing everything but taking snuff as he makes degrees and pronouncements, and the republicans for the life of me don't have a response, a message to meet and deal with the president. >> well, this is the starving time for the republicans. this is the bad season -- unhappy christmas for the republicans with the goal to get to the fiscal cliff, and get beyond that so that they can get to the debt ceiling. the debt ceiling is where they have leverage, advantage, and where the president is asking to increase the debt ceiling beyond the 2 #.2 trillion, these are american dollars, the $2.2 trillion that he was granted in borrowing power back in august. the republicans have to get to the point where that's the fulcrum for the debate. the president wants it out now and do it. he would like an unconditional increase and permanent, basically, increase in the debt ceiling now, in addition to the tax rate increase. the republicans have to survive this time as it relates to tax increases and get on to the ground of the debt ceiling. lou: way are the odds of survival if you have a senate minority leaders fill busting his own proposal on the floor of the senate, which some consider ill-considered. >> yeah, well, i mean, it it was a moment, wass't it? i mean, i don't think -- the republicans, clearly, are having a bad moment here. chris is right. you'll look back on this in six months, 12 months, or two years saying it's the low point, what republicans are hoping. it's not the case democrats are are organized and all sitting together on the same page too. some dissent object question is did the overall amount of raising taxes, that scares some democrats in the senate. you had democrats in the house repeatedly declare the opposition to any tinkering with entitlements, medicare, medicaid, social security, the real problem here, they say flat out, we're not going to do that. you have some differences with the democrats as well. >> no question. there's division of plenty on capital hill, b u this president is giving a clear impression that he doesn't care what anyone else thinks, democrat, republican, the senate, the house, his team, he'll plunge ahead over the cliff. am i missing something, chris? >> no, that's what he would like most of all. the thing that barack obama would like most of all, and i don't mean this to say that he doesn't love america or whatever else, but what i mean, is that the president is advantaged hugely on the other side of the fiscal cliff. if he can get republicans to join hands, jump, and be on the other side, all the tax rates go up issue and he's negotiating from an advantaged position. if he kept debt that, what he would hope is he can force republicans into app auto fade op the question of tax rates and have the party consume itself ahead of midterms with primary challenges before the 2014 so he's, right now, on the tax question looking at when, when. the only hope, the only ground the republicans can hope to stand on is the debt limit increase happening in february. lou: i hear chris saying just because you reek devastation as president of the united states on your economy, doesn't mean you don't love your country. [laughter] >> well said, very well said. >> that's exactly what he was intending to say. [laughter] >> look, i mean, it's an interesting position right now for the president. if you look at the president's argument, i mean, it is effect of what he's saying. we talked about this before, but, remember, the president argued twice raising taxes in time of economic struggle is bad for the economy. he was clear about this. he laid out the argument, and in some detail. you don't raise taxes when the economy's struggling. we were growing at a clip of 5.6% of gdp growth, and today, it's less than 2%, and he's making the saim argument. lou: thank you. great to have you here. more on the cliff, stalled negotiations, and, of course, ever-lasting hope straight ahead. syria and the fiscal cliff. they share two things in common. they are subjects of an obama ultimate may tum and -- ultimatum and the a-team tonight. >> three, two, one! [cheers and applause] lou: state of washington celebrating the passage of two ballot initiatives. why pot heads gathered at the space needle in seattle next. the fiscal cliff 25 days away, a leading conservative senator unexpectedly resigns, and we'll take that up with his friend and colleague, congressman trey here next. want to try to crack it? yeah, that's the way to do it! now we need a little bimore... [ male announcer ] at humana, we understand the value of quality time and personal attentio which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! 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[ male announcer ] humana. ♪ lou: a big surprise today in washington. senator jim demint of south carolina announcing he will resign his senate seat? january to take over the leadership of the think tank, the conservative think tank, the heritage foundation. earlier, the senator criticized boehner's proposal saying, quote, would destroy american jobs and not reduce the debt a penny. joining me to talk about the senator's resignation, his outlook on the cliff, and a host of other issues, delighted to be joined by south carolina lawmaker congressman trey, and congressman, great to have you with us. let me begin with the fiscal cliff. as i discussed with steven and our editor, chris, i have not heard a single republican say of the president's ultimatum, you know, that's the cause of the cliff, not the fact that we department yield to that ultimatum. why in the world aren't republicans talking about the president's ultimatum is -- as thee causal agent of any plunge over the fiscal cliff? >> well, lou, this are a few. jim jordan, demint, we don't have a megaphone or bblly pulpit. there's a band of conservatives in the house opposing the so-called debt deal last summer, but the president can command media wherever he goes, and whatever he does becomes news, and we're 435 little voices, and, frankly, the republican conference is not always singing off the same sheet of music. it is stunning to me we're going to go over a fiscal cliff or slope because of eight and a half days of revenue. that's what the president's asking for, eight and a half days worth of borrowing. the other thing to look at, lou, i think, is, you know, the president wants more revenue. he gets that by going over the cliff. he wants less defense spending. he gets that by going off the cliff, and he wants the republican brand damaged which he gets by going over the cliff. what incentive does he have to sit down and negotiate? none. lou: why is the republican party throwing over reagan omics, free enterprise, growth, individual freedom, smaller government, you know, and lower taxes over this? are you kidding me? the republican leadership is also incentivized just as well as the president as you know, congressman, and they will get twice -- get spending cuts, sequestering goes into effect. you're going to see, obviously, domestic and defense budgets cut, but you'll see a tax increase here, but the fact is you get nothing if you don't do the fiscal cliff. >> well, among my many limitation is the inability to read other people's minds. i don't know what spaker boehner's thinking, but i know what he tells us in conference and private. lou: you can speak freely here. >> well, spiker boehner believes and convinced me he's negotiating with himself. he's in the spot between, and let's be clear, john boehner's never voted for a tax increase in his entire career in the house so he's got his principles, and, on the other hand, we saw in november, bewere not successful coming to electioneering. we're going to be blamed. he wants to create the appearance of a willingness to sit down in talk in a broad way in entitlement reform, bending the spinning art, but the president won't engage it. it's give me my increase on the dreaded rich people, and and unlimited credit card with respect to the debt ceiling. can you imagine anything more absurd than us giving eman unlimited ability to raise the debt ceiling? he's got the unmitigated ability to ask for that. lou: congressman, i have the most profound respect. you got me to tears thinking about the 435 folks there on capital hill in the house who have little tiny megaphones and can't get their message out, but then i start desperately looking for the message, and i can't even find it as i seek it. the poor speaker of the house, inability to rise to the level of the bully pulpit, but the fact is i don't see the creativity, the energy, the passion for the philosophy of the republican party that engenders a powerful leadership response to a direct challenge to the fundamental values and tenants of the republican party, and i ask you, if you don't respond now, when would the republican party respond? >> i'll let you in on a secret, lou, because i like you. between us, and us only -- lou: is this where you start to tell me to go to hell? >> no, sir, i would never, never tell you that. we had a plan that many conservatives in the house worked on, and we were going to unvail it last week. we were going to unvail it only the exact same day that speaker boehner unvailed his response so we canned it, but there is a group of conservatives led by jim jordan, extraordinary person from ohio, and others. we do have a plan, and it's earlly like cup, cat, and balance, which i hasten to add would have averted the so-called super committee, and what we are talking about today, and it had bipartisan support. if we get the house leadership to reinvest and cut cap and balance, our plan last summer, but something about washington that if it's not a new idea, it's not a good requested. i'm sure there's a reluctance to go back to the old plan, but we did have something we were going to roll out this week, and i hope expwrim rolls it -- jim rolls it out next week. lou: looking forward to, thank you for letting us in on that. >> yes, sir, between us. lou: appreciate that. that's always our obligation here that we maintain. >> yes, sir. lou: jim demint shocking everybody. you interested in what might result? >> governor haley picking the person she can pick, and i'm happy to give her four good names, tim scott, nick, jeff duncan, and joe wilson would be extraordinary. she has access to much better political minds and more wisdom than i can afford her, but high on the guys i served with in the house. tough to replace gym demint no matter who she makes, but tim scott would be extraordinary, our state would be well served with any one of them. lou: congressman, that's why i'm sure you're on that list. congressman, thank you for being with us. economic thinker tomorrow author of the book on supply side economics, "wealth and poverty," the former cbo directer, douglas holtz-eakin, and up next tonight is the governor of michigan, is he going to be the next scott walker? details on his pro-worker push in michigan straight ahead. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gavisco®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. is what drives us to broadcast the world'biggest events in 3d, or live to your seat high above the atlantic ocean. it's what drives us to create eco-friendly race tracks, batteries that power tomorrow's cars, nearlyndestructible laptop and the sustainable smart towns of the future. at panasonic, we're driven to make what matters most beer. just another way we're engineering a better world for you. lou: michigan legislature approve right to work legislation as hundreds showed up in michigan's capital protesting the measure. at least eight protesters arrested when a crowd of several hundred tries to push their way into the locked capitol building. police said it was already filled to capacity. republican governor rick snyder says he plans to sign the legislation calling it pro-worker. unions sharing a loss of union dues and other power attack governor snyder claiming he's putting the future of the state in the hands of big business. well, president obama adding to the ever-expanding list of titles, the latest coming from the chairman of the white house triball nation's conference. listen. >> the president loves basketball. he has an indian name. he knows what it's like to be poor, and he has not forgotten where he came from, and his theme song is "hail to the chief." [laughter] i think he definitely qualifies as the first american indian president. lou: and so he is declared. you may remember the president has been called the first gay, female, jewish, and asian president; however, without question, the title of america's first black president belongs to bight. -- bill clinton. up next, the obama ultimatum. tax the rich, or he'll take the country over the cliff. vote on the facebook page, do you agree president obama's ultimatum on higher taxes are responsible for driving us over the cliff if that were to occur? we're talking with monica and angela, and lori. that's right, the a-team is next, and you don't want to miss them. lou: joining me now the a team, author of "what the bleep just happened" i love that title, radio talk show host monica crowley, and fox news political analyst, angela, and fox business network lori rothman. let's start with, if we may. this fiscal cliff. the republicans, as i mentioned, they are not mounting any kind of response to the charge by the administration. >> not surprising. the republicans have been known for as long time as the stupid party, they are a hot mess, they came out of this elect on the losing end, they have done nothing to try to regroup, this affects every american's life and pocketbook, they still can't get it together with a coherent message based on their core principals, economic freedom, and liberty, if you can't stand for those, and fight for them, they have no business being one of the two major political parties. >> monica is right, the republicans have allowed obama to ccntrol the debate, we have the morale high ground and our plan, obama in 2011 talking about tax reform said we can -- we don't have to raise tax rates, we can lower tax rates by capping deducts. he said that. lou: where is coordinated action and rhetoric from the party? i'm talking about from mayors to governors. >> we have been great with policy, but we've been clumsy courtroom communicators. >> boehner will let this backfire, we are higher taxing, no growth, no jobs, fake interest rates, in two years the republican party comes back stronger. >> we're seeing is political fear at its best, by being a washington dc insider i believe we can still get a deal, we have two proposal on the table. >> to get to your point, lou, from a conservative perspective, over in 6 was a national suicide. -- november 6 was a national suicide. a very thin find red line, that red line of republican party. if this party also commits suicide, this will be catastrophic. neil: we'll explore further why it is that republicans are having trouble with two areas, one winning elects and the other governing, we'll be back with the a-team, and we'll find out who is in charge on this assault on christmas among other questions, stay with us. lou: we're back with the a team. i talked with congressman goudie about the issue of taxes, all right senator tom coburn, and tom coal exceeded two tax hikes. >> it makes terrible sense, we're in a situation where the economy is not growing there are no jobs. we're facing an inflationary environment too. it is troubling, and it is just about politics, and ideology and pushing that forward no matter what without thinking -- >> what they are saying is that obama will have to give more, than entitlement cuts and spending cuts and republicans might have to acquiesce to tax hikes. lou: what is the republican party coming, monica used expression political party suicide, i don't know if that drastic but there is a defeatism i find astonishing. >> they hope to stan strong together in one message, we need a warrior that is why i'm delighted that jim demint is leaving and going to the heritage foundation, we don't have a clear champion on our issue, senator rubio does a great job but we need more out there jan the kuh cuban guy from florida. lou: i tell you, right now, i may be insulting a lot of people, but he is the most ex fisk communicate or -- effective communicate or the republican party has but he is not talking about the fiscal cliff. >> he said we have to did is not create new taxes but new tax payers, not make the richer poorer but the poorer richer. lou: that is a great slogan. >> you have to create policy, we're 25 days away from the fiscal cliff. >> to your original question about lack of energy and coing he had on the republican side, -- cohesion on the republican side. there is a real dispier i dispin this. not just among leadership but voting public people are burnt out. lou: what have they done? you have to work hard to get burned out. >> they have not done that. >> and tea party on the rise again. i think that stronger better republican party in two years from, last cycle. watch this whole fiscal cliff dial backfire. the -- the economy is going into recession in new year. lou: do you believe there is no way to avoid the fiscal cliff.
FOX Business
Dec 11, 2012 3:00pm EST
appearance of some moves the fiscal cliff negotiations. what you see is what house speaker john boehner said he is hopeful a deal will be reached, but also added the g.o.p. wants the white house to provide details on spending cuts. but in the white house wants the same thing from the g.o.p. but either way that is good enough for the market. we took off and we stayed to the upside. so far neither side has been specific on spending cuts so coming up in just one hour o ony 4:00 p.m. eastern, former treasury secretary paul o'neill says he has easiest way to cut spending. fox business exclusive and in this our whole host of leaders in business talking about what specific they want to see. in terms of individual standouts. apple right now about 2% to the upside. some excitement over the iphone 5. how is this for a order in china. brenda marshall says china unicom has more than 300,000 people on the waiting list. nicole petallides with talk about this earlier, but that is enough to boost the stock. sales in china friday, can you imagine the lines? sec don't airlines is soaring. up near
FOX Business
Dec 7, 2012 9:00pm EST
, everybody. i'm gerri willis. tonight no progress on the fiscal cliff as democrats and republicans trde barbs over the issue. one group of americans is finding way through this regardless of congress and the president. small-business owners in this countryare preparing to hire. join me now, chieu.s. economist for i may just pull one side. heart of america group founder, and member of tobs creation alliance and actual job creators in this ountry who say teir voices not being heard in this fice took with debate. also with us from the weekly standard, steven hze. welcome. great to have you here. i want to start with the conversation in wwashington and what the speaker had to say about the status of the fiscal here is mr. boehner. >> this is in the progress report because there is no progress to report. when it comes to the fiscl cliff that is turning our economy and jobs, the white hhuse is wasted another week. gerri: what do you say? we wasted another week. we seem to be getting nowhere, and now folks are saying the president is trying to entice us of the fiscal cliff. >> look, i think th
FOX Business
Dec 13, 2012 1:00pm EST
%. not a great day here. there are concerns about the fiscal cliff. we just have the deadline timeclock up again. we know that we have very accommodative fed's. let's take a look at some european markets. finance ministers have been discussing things including giving them more power. these are some of the things that they are looking at closely. we had seen europe really pushing some new recent highs. that is something that pushed us along in the last couple days. lori: a showdown in washington. sparring over a dead deal. it does not look like either party is ready to budge. where are we now, rich we are still in the middle of a work in progress. that could be a little bit of an understatement. democrats say they want a commitment from her republicans. basically, we are in the same spot. here we are at the 11th hour and the president still is not. about dealing with this issue right here. it is this issue. spending. >> the public posturing continues. there is a questioning today about whether or not we get to the point where tax rates are ready to increase on nearly every taxpaying amer
FOX Business
Dec 10, 2012 4:00pm EST
there was some news today about what has happened with the traffic they have had that they never had before. moving the stock over $90 per share. nicole: they anticipate they would be the day of 19 million packages, that would be a record. it would be a record for fedex shipping. most packages ever. a lot is because of e-commerce. david: congratulations to everybody at federal express. liz: ups not doing so badly. let's take a look and see how the stocks are finishinggup, dow jones just feel dust feels cutts in half over the past hour. they were from 24 to 32 points. a gain of about 14. yes&p a half of a point squeezed out. the little bit of green elsewhere, but this was the narrowest trading range since september that we have seen. david: it is nice to see nasdaq back in the green. many people thought if president obama won reelection they would pummel. it hasn't happened today. call is on fire. up significantly with almost a 10% increase. a good day for coal stocks. liz: longtime priceline and deutsche bank pushed the shares could hold from buy. saying they believe a cold war is brewing among the travel sites. really bitter competition. but in these two deals and the moves coming out o in the next couple of months and that might affect the company negatively. wall street counting down the hours the fiscal cliff deadline, we have somebody who says this isn't the real fiscal cliff at december 31 isn't the real deadline to watch. we will tell you what it isn't how you might want to play it. david: how do i go flyfishing with paul volcker? or maybe lunch with business titans. how you can do those experiences with some of the top minds. liz: what drove the market with the "data download." david: if it is in ontana, i would take it. liz: stocks pushed into the green with all the major indices pushing into the green. longest winning streak in nearly two months. potatoes and industrials were the top perffrming sectors while they could not quite get it. oil for the fifth day in a row slip into a three-week low on concern over the italian prime minister resignation soon and the impact on europe's debt crisis. crude and in the day down $0.37 $85.56 per barrel. gasoline has come down $0.10 over the past few weeks. korn falling to a three-week low so far i'm growing demand overseas for supplies from the u.s. soybeans also dropping on slowing demand. david: peter kenny, to see his communicates, some of the best material on what is happening in the market around the world. we have him here live. and peter barnes with the latest developments on the fiscal cliff negotiations, but let's art in chicago with john, two very interesting situations continuing, drama over the fiscal cliff in d.c. and also this week we have the fed meeting. which is more important to the market? >> eventually it will be the fiscal cliff that is more important to the market, but make no doubt about it, the fed meeting with the announcement wednesday morning and wednesday afternoon is going to continue to support risk assets. you were talking about how the dollar is melting up for the fourth consecutive day. the federal reserve will make a very active effort to continue to support risk assets. whether they're equities or commodities. the metals market had a very positive day, recovering a bit with the damage done last week. risk assets are doing well, but over the fiscal cliff for sure in december. liz: the fed, the fed, the fed. they're not going to do anything, but they might announce some sort of easing that is what we constantly talk about and wonder because that has been the trade. with it had a decent rally, the market up double digits the past year and a half very much in part because of the fed pillow put under there. what do you think happens and will there be tougher trading until then? announce a purchase program about $45 billion per month. that will accompany mortgage-backed buying program announced it is september cme. the fed will be buying up about $90 billion in securities between long dated treasuries and mortgage-backed securities so the fed balance sheet by thie financierthistime next year shor to 4 trillion is compared to where it is today close to 3 trillion. they will continue to monetize the debt, as you and your viewers should know, this debt will not be sterilized so bank balance sheets will continue to expand. lots of capital chasing even fewer yields in the market and that in itself will support risky assets in support equities. david: peter, let me go to you for a second. we had this meeting between john boehner and obama. various rumors that he was accomplished or not. i don't know. is that affecting the market at all? where did this i debt as a chatr in the background? >> it is chatter in the background but we have had no volume, very little market. it is exceptionally tight. there is very little institutional involvement in equity markets because of what is going on in washington and of course a whole variety of other factors involved but the fiscal cliff conversation is kind of a watch and see. there is nothing new the horizon. the calendar is running against them, but that does not mean anything will actually get accomplished. liz: peter can't mak, make yourn what to buy. does not matter there is all this uncertainty, there's always a trade, always a play. make the case for why. >> the fed is supporting risk and the metals have had a great day today. frankly i love precious metals. that's a much industrial metals does we will be in for a tough play. especially december closing out in a negative despite the year-to-date performance which has the nasdaq you have to be all up very handsomely. in december closes to bee3 negative for the month due to effect next year is the first yeer in the presidential four year term we could have some very stiff headway. liz: you se said a metals did it beautifully. hold up half a percent for gold futures, high-grade up about a percent. decent data out of china. define beautifully. now we're back about 1700 for gold, but where does it go for here? >> you can see gold over the next year we could see it very definitely outperforming equities to the tune of two to 3%. if equities put in a positive year next year, which would be a bit of a surprise given the historical data that would support a negative performance and given the fact industrial production is sweeping in the eu, gdp in the u.s. has hardly been status. it seems to be with guidance what is is in earnings what they are, i think you could see gold definitely outperform equities two to three multiples. if the fed continues its current policy of supporting risk. david: which they probably will. let me reach on backend because following commodities as close as anybody. john, what do you think of that, is it conceivable in 2013 we may see commodities, particularly cold do better than or maybe even twice as well as equities? >> i think there's little doubt that will happen, david. i would throw into the argument that we live in a world right now where central banks are competing with each other to devalue their currencies. it is only way to really generate and get in the economic growth. with central bankers raissd themselves to zero, gold only has an upside. >> i could not agree with him more. $1800. ittmakes total sense if you look at the corded central banks around the world are doing. where else are you going to go? david: great to see you. we will see more with you coming up. thanks, gentlemen. liz: only three weeks before tax hikes and spinning cuts will take place the fiscal deal is not reached. david: the president and the house speaker meeting. president obama changing his tone a little bit mentioning compromise. peter barnes in washington with the latest. they were saying we believe actions, we have heard so much chatter, we can't really bet on that. >> right now we're just hearing chatter. the president speaks to senate democratic leader harry reid, we have learned. meeting yesterday at the white house with a speaker banner an in a speech in detroia couple of hours go the president extended little olive branch to the republicans. >> i have said i would work with republicans on a plan for economic growth, job creation and reducing our deficits. and some compromise between democrats and republicans, i understand people have a lot of different views, i'm willing to compromise a little bit. >> i spoke to an aide to one top republican leader who was a little bit upset by the comment the president would be willing to compromise a little bit. the white house did not disclose any details of the meeting with the president and the speaker yesterday only confirmed that communications remain open. tim john boehner remaining discussions are in place. david: the president said some things about a year ago that sounded like a perfect compromise. let me get your reaction. this was about a year ago. >> what they said was give us 1.2 trillion in additional revenues. which could be accomplished without hiking taxes tax rates. this could simply be accomplished by eliminating loopholes, eliminating some deductions and engaging in a tax reform process that could have lower rates generally by broadening the base. david: if i were to hear that today i would say there is the compromise, they did it. but that was a year ago, what happened? >> those we talke who talks ford bargain. the president is demanding 1.6 trillion in new revenues. call me crazy but sometimes politicians from both parties say one thing one time and then i sa said something different another time. different circumstances. liz: there is the sound bite. why not just do that, which is what we had. right? >> lot of analyst think that is where they will end up. david: you go out shopping for a car and you don't take a deal and a year later he said i will take that deal. note: i have to pay $1000 more. good to see you, thank you. while the investor world is watching the clock takedown, peter schiff said surreal cliff is not december 21, he will tell us what it is and how you can play it. liz: this will be our third year. and how could you not bid on that? wants to give the federal reserve a piece of your mind? what f you had the ear of paul volcker or questions on how he solved stagflation in the 80s. we will tell you how you can spend a day fly fishing with him and tell him what you really think. david: the best federal reserve president in my lifetime. while many fear failing to fix our debt crisis could lead to a severe economic slowdown, there is one area where they may actually benefit if we go off the cliff. quite a contrarian argument. you will hear from a car expert coming up. [ malennouncer ] th is amy. amy likes to invest in the market. she also likes to ride h bike. shknows the potential for making or losi money can pop up anytime. that's why she trades with the leader in mobi trading. so e's always ready to takection, no matter how wily... or weird... or wonderfully the rket's behaving... wch isn't rocket sciee. it's just common sense. from td ameritrade. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing u elieving the pain qukly. try fast, long lasting gaviscon®. elieving the pain qukly. music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who t where i'm from. and tools to estimate wh my care may cost. so i never missed a beat. 're more than 78,000 peopleooking o for more than 70 million americans. that's health in numbers. unitedhealthcare. liz: s&p futures closing right now, let's get a window into how the trade might react tomorrow. >> s&p futures higher in the last 90 seconds of trade. up $2 on the day now about four and a half. going into the asian trade tonight, you will still see investors come into the market to support the global equity market. china received strong economic data over the course of the weekend. looks like they were still looks to be behind the market. look for mike to come off the sidelines. the question is what going to become o of the circus known as the political situation in italy but really we do think futures will trade higher again. liz: thank you, john, good to see you. david: shares of diamond foods following double-digit lead. nicole petallides with details as to why. nicole: you think of diamond foods you think of the peanuts and the top-secret popcorn. it really is a household name they came up with numbers in the fourth quarter loss, not good news. that is why the stock was tanking today. all kinds of charges they had according to an accounting scandal investigation, that actually hit their numbers as well. this is why diamond foods was coming under some significant pressure today. back to you. david: president obama visiting a michigan auto plants today discussed in a fiscal crisis. our next guest argues in the long run they could see strong auto sales if ther there's no d% all. joining us now, edmunds.com chief economist. good to see you. how would we be better off if we go for the fiscal cliff at least in auto sales? @> we're better off because we're taking hard medicine now. do we want pay now and better later, or suffer now and not be better off later. lots of fixing to do. if we get a stronger growth path for taking more heart medicine now, that bodes well for the entire economy including auto sales. david: your bi are basically wht a compromise compromise will not solve anything. right? >> or worse, some that just extends the uncertainty. eventually compromise anything. no compromise at all because that is what is killing us right now, we're just played with this vast amount of uncertainty. business is almost paralyzed afraid to move forward with hiring, investing and is paralyzing the whole economy really been abll to move forward. david: how many folks are really postponing auto sales because of concerns about the fiscal cliff? i don't hear a lot of people here in manhattan said i will not buy that because of the fiscal cliff. >> at this point we are not seeing a lot of it. auto sales have been really strong including the fourth quarter. we have seen record numbers post recession, and we're looking for a really strong year with 14.4 million within 14.5 million, so be our strongest year since pre-recession. david: hurricane sandy, so one figure that said it may have cost the lives of 250 cars. not all of them will be replaced, but most of them will be. it is an awful way to get it, but a boost for the auto industry, right? >> absolutely. many will be new cars, so you're looking at a nice boost in sales and the good thing is because these cars had they been replaced the normal cycle would noandnot have all come at once. do not take a bbg piece of the future buying cycle. a nice silver lining. david: now chrysler is an italian car company. the italians, the parent company is going to awful times. quitting because of the sales. is there any possibility. now they are not supposed to do this, but is there any possibility tie-ins will pour some of the profits they're making from chrysler here and use them to pay out the parent company in italy? >> i suppose the possibilities are always there. certainly talking about a global company to the extent you're doing better in one market and then another is always a bit of shifting around. at this point i think north america for all the automakers has really become a strong point. hopefully we can move forward, result in undermining uncertainty and go into a strong 2013 in terms of auto sales. david: the u.s. may be doing well but europe is doing terrible. chief economist, thank you very much, good to see you. it has been a rough year for corporate america with the government fining businesses $1.1 billion in antitrust funds. we have the exclusive details. liz: ever wonder what it would be like to work in an office with treadmill desks? free candy and a rock band break room? how you can spend a deal at facebook campus and meet with senior executives who play all the games and hang out with the biggies. we'll tell you how you can do this. stay tuned. >> you can add limited brands ls the company's paying early dividends to avoid higher taxes next year. making the announcement a $3 special dividend, $3 per share special dividend payable december 26. limited brands operating victoria's secret, paint, bath and body works among others. december 26. david: a nice 2% pop after hours because of that. liz: government finding businessefiningbusinesses a recs year forcing firms to fork over $1 billion in criminal fines. david: this exclusive fox business story. >> does the largest one-year total in 122 year history of the antitrust act. the analysis provided exclusively to fox business confirmed by the justice department says the government has handed down more than $1.1 billion in criminal antitrust penalties over the 2012 fiscal year. price-fixing in auto parts and lcd screens. the former director says 2013 could net the government even more in fines. >> to look at what is going on in the antitrust area particularly given the auto parts investigation in efficiency and wide-ranging investigations that have been widely publicized like liber investigation. >> tell these are a result of international investigation. a quarter are from european businesses. only 17% are from companies based in the americas. thank you. liz: thank you very much. david: or gets december 31. this means is a real deadline may not be coming for months, but when it does come it will be bigger than the housing bubble and the financial crisis put together. here to tell us what i is coming next. liz: do you want to buy some time to take the minds of financial experts? over a really nice caesar salad. tell us how you can win a private lunch with wall street heavyweights. the list goes on at this auction, wait until you see. having you ship my gifts couldn't be easier. we, having a ton of locations doesn't hurt. a a santa to boot! 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[ male announcer ] breakrom the liday stress. fedex office. every human being is unique. and there is one store that recognizes it. the sleep nuer store. the only place in e world you'll find the extraordinary comfortable eep number experience. an exclusive collection of innovations that totally individualize your sleep. perfectly comfortable pillows that adjust to your size and shape. temperature-balancing bedding. dual wmth comforters all designed around the sleenumber bed: a bed with dual-air technology that allows you to adjust to the supportour body needs. each of your bodies. inhe namof human individuality: the sleep number collection. discover how our sleep professionals can individualize your sleep experience. exclusively at one of our 400 sleep number stores nationwide. sleep nuer. comfort invidualized. this holiday season, give thgift that's magical: the innovative airfit adjustable pillow at specl 30% savings. david: time for a quick speed read of some of the day's other headlines. five stories, just one minute. chinese investor group buying a 80% stake in aig's aircraft business for $4.2 billion. this deal comes as aig attempts to pay back its $182 billion bailout. >>> ford motors is correcting an engine problem in its 2013 escapes. nearly 90,000 vehicles are affected by faulty cooling systems creating a fire risk. voluntary recall has been in place since november 0th. >>> the organisation for economic co-operation and development seeing economic growth pick up in the united states and britain. the agency is expecting weak growth ahead for germany and france. >>> pay for presidents of private colleges rose from the year prior. the president of the new school is the highest paid in the country. that is right here in new york city at more than $3 million. >>> national hockey league is canceling its regular season through december 30th, i know, due to lack of collective bargaining agreement. 526 games, more than 40% of the season has been canceled. that unfortunately is that [buzzer] that is end of today's speed read. liz: it is disgusting. it is horrifying. we don't seem to be any closer to a resolution on the fiscal cliff even though many are warning that the economy could face dire consequences if there is no agreement but one strategist says, why are you worrying about december 31st? that deadline isn't even the real fiscal cliff. david: that strategist is none other than peter schiff, ceo of europacific precious metals. friend of the show. peter, although i wish it was under better circumstances. you say the real cliff coming is bigger han the housing mess, bigger than the housing crisis we went through. it's the bond mess. specifically when the fed stops printing money to buy up treasurys all hell will break loose, right? >> well, and if it continues to print money it will be a bigger hell. if we avoid the fiscal cliff we end up throwing the dollar over the currency cliff because we send a message to the world america will never pay its bills. we'll keep borrowing money until the creditors cut us off. that is when interest rates skyrocket. the pressure on the fed and if the fed caves in to buy up all the bonds nobody wants we destroy the dollar. that is even bigger crisis than if we let the bond market collapse and let it take the economy with it. liz: let's not start so macro. we're throwing out this term the bond market. a lot of our viewers on treasurys what specifically are you talking about? the entire yield curve? >> well, the government is borrowing over a trillion dollars a year right now and i put borrowing in quotes because borrowing implies that you will pay it back. we will never pay it back. we can't pay it back. that's why we have to raise the debt ceiling because we can't pay our bills. we have to borrow more money from the same people who loaned us money in the first place. it is a giant ponzi scheme. liz: what would cause the back to break of this scheme that you call it? >> well, as creditors don't want to buy treasurys and only buyer left is the federal reserve, i mean you still have foreign central banks. but they will back away. if the fed is the only buyer it has to print an enormous amount of dollars to buy upp3 all the maturing bond and all the new bond and that sends the dollar collapsing and prices skyrocket and then the fed can't maintain the pretense there is no inflation because prices are rising faater than you can see them. then all of a sudden the fed has to do something. it can't sit there and tolerate inflation. if it does anything, if it raises interest rates it causes bigger financial collapse than 2008. david: hey, peter, talk about how we measure things. might sound like a theoretical discussion, but very real or practical looking at your 401(k) or your portfolio. look at the s&p, for eeample, how that did, you think, gee, it is up double digits. that is how i measure value by the dollar amount but you say that is a bad way to measure the value of what you have. measure it relative to the rice of gold. by the price of gold the s&p hasn't done as well, right? >> something of objective. david: peter, hold on. what we're seeing now, that blue line is how the s&p has done, if you measure the s&p in the value of gold. the yellow line in dollars. as you can see the gold value is not as good. go ahead, peter. chart is, i can't see it. in it goes back 12 years. david: just a year. it is just a year. >> i mentioned, they just announced they will praise the rise of a subway ride to $2.50. how is the dow doing in terms of that? i remember when i lived in the city, when i was there i was paying 50 cents to ride the bus and 25 cents on sundays. so that is huge increase. purchasing power is being lost. david: i just went to pennsylvania over the weekend from new york. $13 in the long continue nell to get back into new york. $13, the price of government. liz: try going from new jersey to new york every day. poor now, let's put it this way, peter. you talk about a dollar kraub? people, look, is that a really fair assessment to call it a crash? you really expect that? >> well it hags int crashed yet. it has gone down. people forget the history of the dollar but when nixon --. liz: don't go day by day. every time it falls it rises again. >> my point in 1971 when we went off the gold standard the next seven or eight years the dollar lost 2/3 of its value. that's why oil prices went from $3 to $30. that's why we had all the inflation of the 1970s. i think decline coming for the dollar will be much bigger han what we saw in the 1970s. the fundamentals are much worse. over last five years, 10 years the dollar has been going down. pick up a chart. the australian dollar, you need $1.5 to buy a australian dollar. you used to buy them for 50 cents not too long ago. the dollar is going down. can't just look at euro. they're having problems. you know what? the dollar is also going down against the euro. liz: we'll be watching this and very closely as peter schiff says, hey, peter, you can go fly fishing with paul volcker, what would you ask him if you bid on that for the rfk auction? >> i don't know. i'm still disgusted over $3 million that guy made working at that college in new york city. i like to raise his taxes. david: absolutely. a lot of those guys don't pay anything. peter schiff -- >> they don't work either. they're like no-show jobs. david: before i shoot myself i will have to say good-bye to you. peter schiff, europacific capital. did you ever want to know what happens behind the scenes at the fed or go off about its policy? you may be able to with former federal reserve chairman paul volcker. that is one federal reserve chairman i think even peter schiff would like and come to spend the day with. i don't know if paul volcker would like that. you would have a chance to do this. liz: you could go fly fishing. right now bidding at $3500. robert wolf of 32 advisors? have lunch with him and bill ackerman of pershing. keri kennedy coming up, she is supporting the robert f. kennedy center. it is all for a good cause. stay tuned, believe it or not rivals apple and google are partnering up. david: no. they hate each other. liz: could this be the first of many dances between the two tech giants? doubtful! shibani joshi will have details. stay tuned. ♪ [ engine revs ] ♪ ♪ [ male annncer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ malennouncer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dedeal. at your local ...so as you can see, geico's customer satisfaction is at %. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes.od. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfactio is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes uld save you 15 % or more on car insurance. someone get me a latte will ya,? >> i'm adam shapiro with your fox business brief. the "wall street journal" reporting u.s. authorities are preparing to announce a record $1.9 billion settlement with hsbc to settle multiple investigations that the bank ignored possible money laundering. hsbc admitted to poor money laundering controls last summer following a u.s. senate investigation. >>> the journal reports that the settlement could be announced as early as tuesday. >>> petsmart and limited brands are the latest in a long list of u.s. companies offering special one-time payments or accelerated dividends before scheduled tax hikes in the new year. petsmart declared a special dividend of 16.5 cents a share payable to investors december 30 first. it would have been payable in february. that is the latest from the fox business network, giving you the power to prosper liz: so the robert f. kennedy center for justice and human rights is holding its annual holiday auctions. this one's amazing for business viewers. it is ending tomorrow. this year the fund-raiser is featuring a whole bunch items with financial leaders one of whom joins us right now. robert wolf is the ceo and founder of 32 advisors and formerly the head of ubs americas, and kerry kennedy is the president of the robert f. kennedy center. welcome to you both. i ran into kerry backstage at a show on broadway. you talked to me and said your viewers would love this i started to look at the offerings i want half of this stuff. first talk about the center and where the money goes. >> well, this is the rfk center --. liz: we have breaking news. we'll get back to it in a second. adam shapiro on the treasury. >> it involves aig. the u.s. treasury is announcing public offering for all its remaining common stock in aig. the treasury department says after the remaining 234.2 million aig shares it will still hold warrants to purchase aig common stock. liz, back to you. liz: we'll be watching as the stock trends down a bit in after-hours. what you were saying about the center and where the money people will bid on? >> this is to carry forward robert kennedy he is unfished work. this is for schools across the country and around the world and teaching kids about stopping bullying and human rights. we do grassroots human rights work. we're trying to stop the anti-homosexuality bill in uganda which would make homosexuality punishable by the death penalty. liz: have you accomplished some of the things you've set out to today the? >> absolutely. we freed prisoners from south korea and kenya. we created change on basic human rights issues around the world and in the united states. liz: but it all requires money. >> exactly. liz: here is where the auction comes in. so the beneficiaries as we put it up on the screen are from some amazing internships and experiences. you see a lot of these in new york but let's get to the first one. it is right up our viewers alley. have you ever wanted to have lunch, a power lunch with the ultimate financial titans one of whom is with us today, robert wolf, a board member as well. you and bill ackman of pershing and i love this group of people. you've got, okay, aside from you two. >> we've got mark la serrie at avenue. tony james the president of blackstone. obviously you mentioned bill at pershing. that is one, that luncheon is one of the auction items. liz: where is the lunch will be. we made it look like in my grandmother's saskatchewan. >> we'll do where the person wants in new york. we can't wait. we're very excited. took one phone call to bill, mark and tony to say this is for the rfk foundation. when you see things they're doing especially with medicine going to haiti and things like that, virtually actually. web-based ideas, it is just an easy sell. for me i was named after her dad. i'm robert. my brother is john, born 62 and '60. easy to be part of this. we called up paul volcker, obviously everyone in the country wants to hear paul's view on different things. liz: here's why. he solved stagflation in the '80s and saved our country in so many ways. interest rates were high but he figured it out. this is an incredible experience. fly fishing, the catskills with paul volcker. >> at his country club called balsam lake. it is, you get to go fly fishing two people with paul volcker for the day. we have --. liz: by the way. it is $300 right now. your lunch is trending at $10,500. >> by the way, we should be clear. if any of these individuals are being honored at a charity event, you wall street salesmen, it would be 25 to $50,000 just po be at a table to hear them speak. this will let you sit down with all three of them at once. >> we have over 85 different auction items. if you by this one or paul volcker, you will make enough money. liz: mort zuckerman is a guest all the time. for anybody who wants to become a star in the real estate world, boston properties, breakfast, power breakfast with mortgage. mort. >> meet president clinton and obviously everyone wants to hear from former president clinton especially he solved the fiscal cliff if we recall. many years ago. liz: we had a nice surplus back then. >> yes, we did. liz: behind the scenes at facebook is another one. is this newer item? >> never had this one before and this with the top executives there and that's going to be a great time. liz: mark zuckerberg, will be there? >> we're not promising that but you will have to go and find out. >> lunch last year was the second highest bid outside of a meeting with the pope at the vatican. so we have 24 hours to get this up. okay? substantially. liz: 24 hours, everybody. before we go, you, bob have been known as the president's ear right for banking. >> i'm very close to him. liz: what is happening with the fiscal cliff, him and boehner. >> listen, they have had great meetings with ceo's. they have had three meetings with ceo's. the president wants a deal. boehner wants a deal. i think it has to be balanced with revenues including increased rates on taxes. i would say at like 75% that there's a deal. liz: well, there's a deal tomorrow when this auction is up. they're incredible. internship at chanel. come on you know a kid that wants that. incredible offers. good luck. good work you're doing, kerry. >> thank you for doing this. liz: kerry kennedy. oh the website, rfccenter.org. >> rfkcenter.org. liz: then you will click on it and see where the auction is. go falconning with rfk, jr., her brother. that's what you would like? david: i would like to go falconning. i would have to bid. liz: 5100. david: that is not bad. for a good cause. liz: always. david: apple and google have become french mys. -- frenemis. they are on a bid for kodak patents. we'll have the details coming next. ♪ . [ male announcer where do you turn for legal matters? at legalzoom, we've created a better place to handle your legal needs. maybe you have questis about incorporating a business you'd like to start. or questions about protecting your family with a willr living trust. and you'd like to find the right attorney to help guide you along, answerny qstions and offer advice. with an "arating from the better business bureau legalzoom helps youet personalized anaffordable legal proteio in most states, a legal plan attorney is available with every personalized document to answer any questions. get started at legalzoom.com today. and now you're protected. david: i had to read this story twice
FOX Business
Dec 12, 2012 4:00pm EST
. david: says watch out because there will be a fiscal cliff, and profits telling us resolution or not 2013 will be good for the market. let's start with todd, the dead, you have the whole shebang, the 40 billion, the 45 leanne in the treasuries, why did the market fissile? >> first thing we have to look at is the market expectation. we had a five-day rally coming into this. the market knew this was coming. david: hold on a second. there have been some reports that they wouldn't be going the 45 alien, they would stop short around 37 billion, so there were some expectations of less than this. >> the market priced in the full tilt. you saw after the rally they were a little surprised got a little spiked rally, and in resistance because that is the technical level we are at. it was a natural brake in a market that was overdone anyway. liz: let's not ignore the fact one thing a lot of people aren't talking a lot about right now but should, why oil jumped, white gold jump, the dollar got shredded today. when the fed announces these on buying programs or continuing of them, it weakens the gr
FOX Business
Dec 8, 2012 4:00am EST
the president and speaker have taken no concrete steps to resolve the so-called fiscal cliff. president obama remains insistent that republicans yields to his ultimatum that he be allowed to raise taxes on those making more than $250,000 a year. republicans for their part insist that the president gets seris about cutting spending in order to reduce trillion dollar deficits and a national debt that is now mind-boggling league not -- monotonous. house minority leader disagrees vehemently with the speaker on how to reduce deficits and debt. today she offered a paradoxical statement on fiscal policy that would make both casey stiegel and yogi berra proud. the nation now just 24 day away from $600 billion of spending cuts and tax increases that will automatically kicked in. and pelosi has some wise words for washington. please listen terror. >> this is a moment of truth. the clock is ticking. christmas is coming. the goose is getting fat. in many homes across america it is very, very lean times. you cannot cut your way to deficit reduction. lou: that's right. pesi sys we cannot get our way
FOX Business
Dec 12, 2012 9:00pm EST
weeks before u.s. falls off the fiscal cliff, speaker john bain ser slamming the brakes on any hopes a deal is coming soon, making it clear both sides have differences. second in command, eric cantor warning members n to make any plan for holidays, and kevin brady of texas, vice chairman of joint economic committee, thank you, are we still that far apart? >> you know we are. i started optimistic to get this done before the holidays, but, i don't feel that way, it seems to me the decision has been made, perhaps by white house to take us off this fiscal cliff. i think this is irresponsible to do it we're ready to work out a reasonable sound solution but i do not see that coming from the other side right now. tracy: is it because there is so much going on behind scenes. they think there is a lot of secret wheeling and dealing with john boehner and the president do you agree? >> i do not, i think he -- they have been sporadic talks, i know speaker boehner has been frustrated with how slow the responses have been. again, you know, not just tax rates it is authentic spending cuts, if we do
FOX Business
Dec 7, 2012 3:00pm EST
think we get to 85 and then rebounds and get back up to the 88-89 level. the fiscal cliff talks not going anywhere yet. during the next two weeks we will start to see some positive remarks. one thing that is very interesting, heat and oil settled in a very weak position. those two coming off could take the energy complex down much further. right now only 85 to 85.10. cheryl: we have plenty of supply out there right now. we are in the middle of winter. >> we have a tremendous amount of supply. we do not have much cold weather coming up near term. once the fiscal cliff starts getting resolved, you will see some buying going on. cheryl: bobby, i want to go back to you about europe. we have not had a lot of problees. seems like the greeks are kind to getting things. >> the last few days, europe markets have been pretty strong. as you said, a sleeping giant. cheryl: i do not want to see anything change. it has been nice. gentlemen, thank you. i appreciate it. great floor show today. uncertainty seems to be the norm in washington these days. last year you have the debt ceiling convey. con
FOX Business
Dec 6, 2012 1:00pm EST
, getting his gangnam on. our very own neil cavuto bringing his fiscal cliff news straight ahead. you're looking at gold, lots of it jumping into gold and silver% as a safe haven. actual bars of gold. help investors get in on the action. melissa: we have been talking about it on fox business, the next great government bailout. going to save the federal housing administration. time for stocks as with every 15 minutes, let's had before the new york stock exchange, nicole petallides standing by. down 13. nicole: this is one of those markets with a lot of anticipation. every focuses on the fiscal cliff. tomorrow is the all-important jobs report for a lot of folks have been hearing more economic news which has been more dismal lately. talk about more layoffs they have seen in november. right now the market is not too far off the unchanged line. the acidity holding 1400. the tech of the nasdaq still below 3000. today apple is now moving into the green and that is one of the reasons why it is holding on to a quarter percent gain. apple $700, 705 in september traded as low as 518 today. certainl
FOX Business
Dec 7, 2012 4:00pm EST
and shot up 1421 and sttrted to back off. the fiscal cliff is hanging on the market. as soon as you see john boehner talk for obama it doesn't matter. the market seems to come off of that news. traders have got to look out if there's a joint announcement, chances are they're close to a deal, we will see the market higher. look out for that. dave: let's get off of stocks and deal with oil. we see oil slipping a bit and you see a point at which you might stop and that is $84.50. that is the point we have got to look at coming in next week as the starting point for this drop. phil: we have come down to that range several times over the last few weeks and that is when you had highest level supply out there and you didn't really have much geopolitical risk. we start to come back to that mode so we will scale back to that level before things heat up in the middle east and we have supply crunches due to the cold weather ahead of us. >> next week we have the final fit meeting of the year. the jobs report and everything we have been seeing. phil: we will see the fed continue on the same path
FOX Business
Dec 4, 2012 10:00pm EST
consequence of this and by this i mean going over the fiscal cliff will be significant , butwhat i don't %-effort, ither self delusion or misrepresentation of the facts. you all, as republicas control the house of representives. as we saw dri the ebt ceing discussions in 2011, it isot a pretty perch frm which toake on the blly pulitof the presidency. >> but i think what we need to do s not get caughti the trap of the compmise s raising tas. i hink there are many other compromises you could hae. r example, i think one compmises we cldave some money and military speding even though i thinkhat is the most impot -- lou: 55 billion? >> absolutely. i think we could..3 a think wecou alssay that,,3 you know what, the ridge could pay more for their medicare. the rich could receive less for thr social secuity. those are compromises i presented directly to the president a year-and-a-half ago, and he has done zero. his party hasdone zer. they are hell bent on let's go soak thererace. lou: with all respect, have you had thidiscussion with you party? what are they saying? those are atioional and
FOX Business
Dec 9, 2012 11:00pm EST
walking the nation to the brink of a fiscal cliff. that is one of the speakers firmest in the strongest statements yet. >> this is in a progress report because theres no progress to report. the white house has wasted another week. there are a lot of things that are possible to put the revenue on the table, but none of it is going to be possible. the president insists on his position. insists on my way or the highway. lou: inconveniently the congressional budget office today reported that the federal deficit is already bulging. the cbo reports for the first two months of fiscal 2013 that number $2,902,000,000,000, $5billion more than the same two month time span last yar. and the labor department today reported the unemployment rate fell to the 77%. good news, the lowest jobless rate in four years. the lower unemployment rate, however, the consequence of the more than 300,000 people who dropped out of the work force altogether just last month. when counting the nderemployed and those who have gin up their search for work, the real unemploymentrate amounts to a 14th 4%. my next
FOX Business
Dec 10, 2012 6:00pm EST
agree? and despite the fiscal cliff, there are many positives heading into 2013. we will tell you what the biggest one is. welcome to "the willis report." hey, everyone, i am tracy byrnes in for gerri willis. the only have 21 days separate in the u.s. for more than $500 billion in tax hikes. while both sides say the lines of communication are open. getting a deal to avert the fiscal cliff, president made it very clear he is holding the line on hiking taxes on the top 2% of earners. customizing a little bit with republicans. joining us, peter barnes. what exactly is he willing to compromise on? >> on the big item, the big kahuna. increasing taxes on families earning more than $250,000 per year history leaving the door open to a compromise on higher tax rates, higher rates. when anas repea asked repeatedls demanding the top rates return to the clinton administration in and the top rate was 39.6, he does not say yes, have to have that to get a deal. but he is not backing off his demands rates go up by some amount of wealthier families so the buzz is he might settle or compromise for
FOX Business
Dec 5, 2012 10:00pm EST
: treasury secretary today said the obama administration is now willing to go over the fiscal cliff. moody's chief economist, deutsche bank senior u.s. economist telling us just how much that will hurt the economy and the markets,nd, of course, investors and everyon in this country in today's money lineup, news on the economy brought life to wall street today inspiring some investors, the news an unexpectedncrease in factory orders up for a second straight month, and the biggest gains in productivity in the third quarter in two years. business activity, along with new orders, showing their biggest gains last month since the first quarter. stocks finished off their highs. the do up 83 appointmes at the close. the s&p gaining 2.25, and the nasdaq under the weight and prsure of the biggest stock, apple, dropping 23 points. volume today rising to alst 4%.2 billion shares. app 8 stock, as i said, today, laggerred and immense weight on e ma. that stock fell 6.5%, $37, and concerned about the lack of new products on the horizon, concern increased competition in the market might force apple to cut m
FOX Business
Dec 7, 2012 1:00pm EST
fiscal cliff negotiations. it is not painful until the very end of the year. how this benefits the company. adam: the note dropped 7.7%, the lowest rate since december 2008. that is just a headline. let's get to nicole petallides. the traders are reading a bit into this report. nicole: the first thing they noted when i came in here, a lot of them are talking about the fact that the prior month had been revised lower. the prior month which seemed like they were good news, in fact, were not as good as they seemed. they take these numbers with a grain of salt. the dow, nasdaq and s&p are mixed today. the dow is up about one third of 1%. what is interesting, this will be our third wedding week in a row. they have not been dramatic moves, but last week was pretty slots. jpmorgan and bank of america are some names on the dow that are holding on pretty nicely. the tech heavy nasdaq down one half of 1%. adam: a lot of people watching that jobs number. thank you very much. dennis: according to today's jobs report, the unemployment rate is down to 7.7%. the lowest level it has been to since
FOX Business
Dec 5, 2012 6:00pm EST
the fiscal cliff. is that what democrats want us to do? pictures seem so. we go live to capitol hill in 10 minutes. while congress talked about wanting to cut excess spending, the numbers may tell a different story. i will break it down coming up next. ally bank. why they have a raise your rate cd tonight our guest, thomas sargent. nobel laureate in econocs, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise ur rate cd. ally bank. your money needs an ally. gerri: where would we be without senator tom coburn? without the oklahoma taxpayer dollars? this fellow brought us this image. your member this? the shrimp on on the treadmill. does anyone have? @%e national science foundation studying the effects on disease. they decided to do this, and they spend 500,000 taxpayer dollars doing this study. if you can get scientists to waste money, the senator is back with another study. this time uncovering waste of the department of homeland security. and there was plent
FOX Business
Dec 10, 2012 10:00pm EST
on the fiscal cliff negotiations, or more appropately the iasse many our state governments aren't in much better shape. state pensionsystems, unfunded liabilities are now estimated to be in the range of $2.5 trillion to almt $4 trillion. leading is california witmore than $370 billion in unfunded pension liabilities, only 47% are currently fued. a pension debt per household in california of aost $30,000. illinois close behind, $167 billion in unfundedliabilities, 28% funded, and th state pension debt per household amounting to over $34,000. in municipal bonds illinois sold over $5illin bonds this year making it the third biggest debt issuer in the first tee arters this year. california and new york, numbers e and two with. the issue of unfunded pension liabilities with the passage of right-to-work laws is a subject that i'm going to be taking up with our next guest. -@mallory fctor, author of can the bestseller, "shadow boxes: government nioos control amera and rob taayers blind." we are delighted to have you with us. let's turn first, if i may, to the presiden telling autoworkers th
FOX Business
Dec 4, 2012 7:00pm EST
consequence of this, the economic consequence of this and by this i mean going over the fiscal cliff will be significant , but what i don't %-effort, either self delusion r misrepresentation of the facts. you all, as republicans control the house of representatives. as we saw during the debt ceiling discussions in 2011, it is not a pretty perch from which to take on the bully pulpit of the presidency. >> but i think what we need to do is not get caught ii the trap of the compromise is raising taxes. i think there are many other compromises you could have. for example, i think one compromises we could save some money and military spending even though i think that is the most important -- lou: 55 billion? >> absolutely. i think we could..3 a think we could also say that,3 you know what, the ridge could pay more for their medicare. the rich could receive less for their social security. those are compromises i presented directly to the president a year-and-a-half ago, and he has done zero. his party has done zero. they are hell bent on let's go soak there race. lou: with all respect, have you
FOX Business
Dec 6, 2012 6:00pm EST
. there's just 25 dais left to stop the u.s. from going over the fiscal cliff. staff and speaker john boehner's office telling fox business the lines of communication open, but it's an empty house in washington. look at these pictures. house members on their long weekend break, and the senate is out until monday, but not before working out logistics for a big event. a private screening of steven spielberg's lincoln at the capital. now, harry reid using his time to take a special waiver to allow unbuttered popcorn in the auditorium. that's what passes for work these days. the president's holding another campaign style event as the middle class families, and with more, michael burgess of texas. congressman, great to have you object show again. >> great to be with you, thank you. gerri: everything's hanging in the banse, economy, middle class income, taxes, you name it, and you and your fellow house members are not going to work. >> well, wait, this is a 24-hour day job, seven days a week. i'm in new york tomorrow looking at the hospitals affected in hurricane sandy, and i feel like i ne
FOX Business
Dec 5, 2012 9:00pm EST
show. twenty-six days until we fall off the fiscal cliff. is that what democrats want us to do? pictures seem so. we go live to capitol hill in 10 minutes. while ngress talked about wanting to cut excess spending, the nbers may tell a different story. i will break it down coming up next. you stl think you're colder than me? nah. don tell me. tell tiny! [ ice crackling ] [ knuckles cracking ] and who are you supposed to be, back-up? handle it. what you looking at? ha! cat-like reflexes... whoa! [ male announcer ] the coors light silver bullet pint. it's bigger. it's resealable. it's still the coldest. don't you do it. don't you do it! [ male announcer ] frost brewed coors light. gerri: where would we be without senator tom coburn? without the oklahoma taxpayer dollars? this fellow brought us this image. your member this? the shrimp on on the treadmill. does anyone have? @%e national science foundation studying the effects on disease. they decided to do this, and they spend 500,000 taxpayer dollars doing this study. if you can get scieists to ste money, the senator is back with a
FOX Business
Dec 5, 2012 12:00am EST
, wait and see the name of the game on wall stet. they watched the latest sparri over the fiscal cliff. stocks weighed between sitive and negative territory. shares of netflix soaring re than 14% you wow! the compan announcedexclusive dib shun deal with disney. ey will get first run reaming rights for disne films benning in 201 gold prices losing their shine. the commodity tbledelow $1700 a ounce hitti a one-month low. >> to our to story, no bias or bul oney" will lay it out for you. all the talk about can't fall off the fiscal clf, we say why not? it may not the worse option? maybe it is. none of them stop the problem. we'll take a look. here to crunch t number, stephen hayes, fox news ntributor andwriter for he weekly standard." thanks for coming on to brave the math. bothides get so emotiol here. it is not abt emotion, it is about the numberand what will save this country. oking at the real nbers the fiscal cliff. werojeed it out over 10 years if we sow you the big fufull screene made and numbers look pretty scary from tax perspective ther if we went er the fiscal clit would increase taxes
FOX Business
Dec 6, 2012 3:00pm EST
are always talking about fiscal cliff but what about housing? is everything in your portfolio still depend on a recovery or is having an overall market driver lost its punch? liz and saunders, chief investment strategist at charles schwab and which sidles through and why she thinks the recovery is just beginning. this company depends on you making trades for your portfolio and so far you the retail investor are still on the sidelines. td ameritrade joe moakley weighs in on that, on whether the age of the supersized bank is over and the massive life change he made off of the sidelines and into a real football game. let's get to the floor show. we have freighters at the stock exchange, cme group and nynex. give me your thoughts. we go through grinding higher as far as the broader markets are concerned except for the russell which is looking weaker right now. just turned positive. we are all green for the major indices. does this continue through tomorrow? >> hard to tell. if you look at the way the markets have traded on an intraday basis we have seen this pattern over the last couple
FOX Business
Dec 12, 2012 1:00pm EST
. melissa: 19 days to go until the fiscal cliff congressional republican leader vowing to stay in washington until a deal gets done. lori: we will get john carney's take on all of this right ahead. here are some losers and winners on the s&p 500. ♪ can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you knowwe've been op all ght. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. [ male announcer ] how could a luminous protein in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the conn
FOX Business
Dec 11, 2012 12:00am EST
hope on the fiscal cliff. the dow and s&p 500 gained post-election day tumble. the dow climbed 13 points for its fourth straight game. >>> more trouble for once untouchable apple. jeffries cut its price target by 100 bucks down to 80 ashare. shares fell by more than half a percent on theews. >>> now on to our top story. tonighis taxes and how hard we are all about to get hit. there are already a trillion in t increases baked rig into the obamacare law and that means upper being in earners will see billions of dollars in tax hikes as it is. for democrats it is not enough. with republican lawmakers backing off the pledge not to raise taxes looks like tax hikes for the wealthy are certainty. joining for more, grover norquist, president of americans for tax rform. thanks so much for joining us. >> absolutely you say a lot of people are missing the fact that obamacare baked in a ton of tax hikes for wealthier ericans as it is? >> people talk about the fiscal cliff as if it is one ing. it is three. there's the obamacare taxes. to pay for obacare were delayed until after he got himself s
FOX Business
Dec 11, 2012 11:00am EST
dollars. back to you. connell: as we get close to this fiscal cliff, both sides agreeing to get serious. we have heard the house speaker will update us on the talks within that hour from house floor. we will hear what speaker banner has to say. joining us right now are to congressman. would you vote if there was an agreement? >> i think it will be a balanced plan that will increase revenues by raising the rates on upper income families, but, at the same time, agreeing to substantial cuts. connell: the reason i started by asking that question is because i am sure it is frustrating, the members of congress to not be involved in this. this is two guys behind closed doors. what about from your side of it. will the speaker have the votes, even if he gives in? >> we do not know. as you suggested, you cannot have 218 or 435 or 535 people in a room trying to negotiate. this is the way you kind of have to do it. one on one. he needs 217 other people in the house and 60 people in the senate to make that deal because law and actually ring that deal through. i do not think there is any guarantees e
FOX Business
Dec 13, 2012 11:00am EST
you very much for coming on. if you think about all this fiscal cliff nonsense ruining the stock market, brian jacobson is here to talk about it. you are pretty optimistic. >> well, i am. i do not want to think no matter what. i do think that whatever happens coming out of washington, d.c., we will probably see a little bit of economic break. that is already priced into the market. i think the economy will begin to accelerate. that could drive a little bit more investor optimism. connell: let me talk about the possible scenarios here. everyone is focused on the idea if they do not get a deal. even if they do get a deal, it will not be expansionary. there will be a lower level of government spending, or at least it will not spend as much. neither one of those things should help stocks. why is that environment so favorable? >> okay. that is a very good point. a lot of times when you exercise, they say "no pain, no gain." this is just all pain. if you look at forward earnings. look at the way the market is trading. it is not depressed levels. we are almost at recession territory. a
FOX Business
Dec 11, 2012 6:00pm EST
, house speaker john boehner sent a counteroffer to president obama to fend off the fiscal cliff. in a response to an offer made by the white house yesterday, we go to rich edson from washington, d.c. with the latest. rich, any response from the white house on this? >> still working on that. aids say in exchhnge of proposals taken place, some movement, but still major differences between the white house and speaker's office. fox news reports the speaker and president just spoke on the phone. white house folks say there's a sign of movement. a senior house aide says the white house reduced the demand for tax revenue increases from $1.6 trillion to $1.4 trillion, well short of the latest republican offer of $800 billion, though, there is another offer on the table from republicans that the details are unknown. boehner spokesman says we acceptability the white house a counteroffer to achieve reform to solve the crisis. we're still waiting for the white house to identify which spending cuts the president is willing to make as part of the balanced approach. fox news is reporting senior whit
FOX Business
Dec 12, 2012 3:00pm EST
up on that last question, how helpful would it be to see as part of the fiscal cliff resolutions and near term stimulus? the president has proposed that. how helpful d think that will be and i will ask my follow-up now. what ever happened to your southern accent? >> on the second one, i would like to think i am bilingual. when i go home sometimes it comes out pretty strongly but i won't try to do that here. i try to be careful as you know, not to give views on specific tax spending programs. of course, those are the province of the administration and congress. the attitude i have taken has been the at a minimum congress should try to do no harm, they should try to avoid policies that significantly slow or derail the recovery. that is the critical thing along with long term objective of achieving a sustainable fiscal path. given that basic recommendation congress can consider variations. for example if they believe they can achieve a strong, credible future path for fiscal policy that will give them potentially some space to do something more expansionary in the short term but those a
FOX Business
Dec 5, 2012 5:00pm EST
the president's fiscal cliff plan. forget hitting the rich. alcohol, cigarettes, online gambling, nothing is safe. will the payoff be worth of the pain? we'll debate it. >>> are the salvation army bell ringer jobs only for sexy ladies. one man claims he was fired to make way for beautiful women. is it unfair or good business? even when they say it's not it is always about "money." melissa: all right. first let's take a look at the day's market headlines. you would think the markets would stop getting faked out by the fiscal cliff optimism, would you? but apparently not. that and better than expected data from the service sector sent the dow to a one-month high. >> it was a different story for the nasdaq weighed down by tumbling shares of apple. it had a 6 1/2% decline there and it is the biggest one day loss in four years. fears are growing that the ipad could be losing market share to android based tablets. >>> layoffs music to the ears of citigroup investors. the bank is slashing 11,000 jobs and taking one billion dollar fourth quarter charge as part of a plan to reorganize. sh
FOX Business
Dec 12, 2012 7:00pm EST
in his own words confirming that tax hike, coming irrespective of the fiscal cliff outcome. >> taxes are going to go up one way or the other, the key is to make taxes go up and high-end individuals, i am confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. lou: obamacare, guarantees taxes are going up. 5 new obam obamacare-based taxeo kick in next year. a 3.8% surtax on unearned income, and call chains and dividend 18.8%, and a new tax on hospital care, and medical device manufacturersing' taxed 2.3% of the price of their products. americans get a tax deduction if their medical expenses exceed 7.5% of their total income that number rising to 10% for everyone under the age of 65. and government, for first time ever sending a limit on tax free flexible spending accounts, joint committee tax, estimates those 5 new provisions amount to $2 60 billion tax hike over next 7 years, president obama, avoid anything real negotiating on fiscal cliff issue, president doubles the amount of tax hikes he campaigned on when he unv
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